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The others above have it spot on. BVP has a ton of evergreen powder, and some really smart guys. Cowan is one of the smartest internet VCs, period. But do not waste your time with these guys. Firstly, no one but the senior guys can get a deal done. The other partners just waste your time. Second, they are too slow and way too conservative. The chase obvious deals, rather than creating value. Bottom line - if you have any other options, don't waste your time. Especially if you are an attractive internet company, almost any other A or B level firm can move more quickly and is easier to work with.

I was excited to pitch Bessemer on a SaaS financing. From reading a partners blog I thought he was a smart guy, and we are right in his area of interest. They also churn out a ton of PR on their 'expertise' in SaaS which would lead you to think they might actually be paying attention. Unfortunately it didn't turn out like I hoped.

Despite an intro from a Bessemer CEO, I couldn't sync up with the partners busy calendar and got punted to his associate, who really didn't get what we are doing. I broke my cardinal rule - *never meet with associates*.

Neither of them responded to follow ups. Of the VC's we pitched for this round, Bessemer was one of only two funds that went 'radio silent'. Overall it was a disappointing experience and we would not go back to Bessemer.

We closed our financing with a much better fund - and I've got one less blog to read.

Posted by
ab34ba
on 2009-02-24

PUBLIC:

Spoke with David Cowan - he was insightful and provided detailed analysis of what he found good and bad with the company. He and the team also seemed forthcoming with additional people we should talk to in order to find out more about the space.

Posted by
navinjohnson
on 2009-01-16

PUBLIC:

We pitched Derrick and Matan. They were polite and attentive during the meeting. I received a follow within two days from Matan expressing gratitude for coming in but they were going to pass which he then explained why. All points were reasonable. A few weeks later Matan sent me an email containing some information he thought would be helpful, which it was. Derrick also followed up with me afterwards. While it is disappointing they did not invest, I would definitely suggest giving them a try if you are in the cleantech space.

Posted by
lisitski
on 2010-01-09

PUBLIC:

I had a conversation with Philippe Botteri during SVOD event where I presented on stage. Philippe showed clear understanding of SaaS business, asked proper questions and provided interesting insights about our pricing strategy. There was no intention from my side to raise money though. Positive experience!

Posted by
atsysusa
on 2008-11-11

PUBLIC:

I was referred to Brian Deeter but he was traveling and was handed off to Philippe Botteri. I spent about 1 hour on the phone with Philippe who was professional and interested.

Some time was spent explaining our business, which is probably unique for VCs - large scale industrial automation focused on Container Terminals and Intermodal Facilities. Philippe concluded that we are too far outside Bessemer's expertise and sector interest.

It was a good conversation even though we mutually decided that further discussion would not prove fruitful.

Posted by
NYC
on 2008-07-09

PUBLIC:

I have had three different Associates contact me to set up calls and then they are always late for their calls, and often totally blow off calls. And get this, they are soliciting me! I have had two different Associates call me at the same time, and not know what the other was doing.

It paints a pretty poor picture for their firm, I wouldn't take money from someone who can't even be on time for a conference call three times in a row! I have to say that this type of behavior baffles me, they approached me, and do they think they are going to beat out every other VC with money if they don't respect the CEO's time "

They are great people, up front, friendly, and honest. They let you know quickly what they are looking for, and they won't waste your time if you're not for them. They will tell you to come back at a later date if they are interested. I highly recommend trying to talk to them.

Posted by
jerwin
on 2008-02-29

PUBLIC:

Rob Stavis is an excellent board member. He takes a very personal interest in the success of his portfolio companies and has an amazing track record behind him. If you can get him, you will be much better off.

Posted by
showmethemoney
on 2008-02-18

PUBLIC:

We pitched Byron and Philippe for our Series A. We came in, gave a pitch, they asked good questions, and at the end of the meeting, they passed. I give Byron high marks for saying no, there and then, and not dragging out the murky no. It seems they only back early stage if a) they know you and b) you already have vertical traction. Despite it feeling a little clubby and insular, I appreciate the way they handled themselves for being direct. I would definitely pitch Byron again.

Byron is rare in that unlike other young partners in the business he has both deep venture and operating experience.

He started and ran his own very successful software company acquired by IBM, and proactively did the right thing at the right stage by finding a growth CEO.

If you are turned down, as I was, he will offer solid business and funding advice that is worth heeding. He is also very time efficient with entrepreneurs, giving them time to pitch adequately (good listener) but also throwing in a couple of trademark VC staccato questions to keep the conversation focused.

Posted by
hausenpepper
on 2007-11-22

PUBLIC:

I'm surprised some people on the board think poorly of Jeremy Levine.

I was really impressed with him and his former squire Mitchell Greene. They tried to do a late stage liquidity investment in my company, but ended up getting bid out by a strategic acquiring company. Sequoia was involved in the process and despite having a better brand, we were more impressed with Jeremy than the guy we were working with at Sequoia.

My only critique is that Jeremy ended up getting me to include more parties in the deal by starting with a valuation which was too low.

As long as you have a backbone, and can stand your ground, he's a very honest, upfront guy to work with.

Very intelligent too, can add more value than just $$.

Once my current venture gets some wings, I am considering offering him a board seat w/o a financing.

Posted by
Anonymous
on 2007-08-17

PUBLIC:

The senior guys are very very good- Felda, Dave, RobC, and BobG in particular. You want to build a company with any one of these guys. They understand what they play in, and stay away from what they don't. If you pitch, make sure they are in the room.

Stay away from the associates. Don't bother with them for Asia- they don't know what they are doing in China.

Posted by
anonymous
on 2007-03-19

PUBLIC:

Byron Deeter is an extremely sharp young principal we met with last summer ('06). The only VC among 30+ we met with who, in retrospect, pointed out the correct reason for our startup's lack of growth over the past 6 quarters (when he very graciously turned us down). Wouldn't hesitate to pitch him and the firm again.